She is also a fellow of the Royal Society of Arts and a keen novelist, having published several thrillers.

A spokesman for Allianz said Corley is not leaving the business. He noted that it is common practice to combine executive and non-executive roles, adding: “Elizabeth is fully engaged at and committed to Allianz Global Investors.”

Corley has held many other directorships in the past, according to records filed with Companies House.